Petmed Express (NASDAQ:PETS) Stock Rating Upgraded by BidaskClub

Petmed Express (NASDAQ:PETS) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday, BidAskClub reports.

Shares of NASDAQ PETS traded down $0.43 during trading hours on Wednesday, reaching $15.85. The stock had a trading volume of 21,248 shares, compared to its average volume of 776,348. The firm has a market cap of $330.80 million, a price-to-earnings ratio of 9.21 and a beta of 0.52. The company has a fifty day moving average price of $16.45. Petmed Express has a 52-week low of $15.00 and a 52-week high of $41.76.

Petmed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). The firm had revenue of $64.57 million during the quarter, compared to analysts’ expectations of $69.06 million. Petmed Express had a net margin of 13.32% and a return on equity of 28.96%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Petmed Express by 1.1% in the fourth quarter. BlackRock Inc. now owns 3,076,147 shares of the company’s stock valued at $71,550,000 after purchasing an additional 33,290 shares during the period. LSV Asset Management raised its stake in Petmed Express by 35.0% in the first quarter. LSV Asset Management now owns 762,337 shares of the company’s stock worth $17,366,000 after buying an additional 197,550 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Petmed Express by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 434,514 shares of the company’s stock worth $10,107,000 after buying an additional 85,173 shares in the last quarter. Deutsche Bank AG raised its stake in Petmed Express by 166.1% in the fourth quarter. Deutsche Bank AG now owns 329,962 shares of the company’s stock worth $7,673,000 after buying an additional 205,960 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Petmed Express in the fourth quarter worth approximately $6,088,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.

About Petmed Express

PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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